Generic partners India pharma
Wednesday, 27 August, 2008
Biotech Capital [ASX: BTC] investee Generic Health has secured a strategic partnership with one of India's five largest pharmaceutical companies.
Under the arrangement the Indian pharmaceutical company Lupin will become a significant shareholder in Generic Health, obtaining board representation in exchange for a large cash investment.
Lupin will also provide Generic Health with access to 16 dossiers of generic drugs, including 14 already approved by the necessary regulatory bodies, as an in-kind value offer.
Generic Health announced a partnership with Actavis in June this year, and acquired Bellwether Pharma in 2007.
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